I had one of those too: 1959 Volvo Amazon with a B-16 engine, 3 speed manual. Got into all kinds of trouble with that car as a 17 year old hot...
I called boat setters: They could only confirm that the owner can not captain his own boat while chartering, but it would change in a month or so:...
Aye, of course. I may be good looking, but not stupid. :D
Ok Mark, makes sense now. Yes, trying to make hobby money, No not trying to screw the IRS or anybody else. Will look further into it.
Thx guys. Now I am really confused. :confused: I should call these boatsetter people, they should know it all: No need for me to reinvent no wheel.
Now read the above guide and are wiser but still have questions: If an owner is not allowed aboard during a charter, and are not allowed to act as...
Thanks Pascal, good point, I have no intention of violating anything: Was thinking about the limitation of a 6 pax license, not the boat. Will...
I will only charter with this owner onboard. Not doing bareboat, but crewed charter, and I am the crew:cool: As for more than 6 pax, a similar...
Not too concerned about commercial insurance. Obviously my present policy is for strictly recreational but waiting to hear back from agent on...
Don't really have a burning desire to go into the charter business, but since I already own a boat, own an LLC and hold a USCG ticket, then was...
Got a good CPA, she has kept me out of jail for 25 years, don't know if she has expertise setting up a boat charter business, especially since she...
Hmm, that may be a good idea. Lemme see, I keep the financing, and I keep the boat in my name, but lease it to my charter LLC. The lease payments...
Thx, that is the extent of my knowledge as well. :D
I know, but I invested a chunk of cash just in time for the Chinese stock market to crash, hence I am still up-side down. Almost back to neutral...
Aye Mates, I can see where this is going now: The odds of keeping the boat financed in the LLC is slim to none, and Slim just left town:p Guess...
Yes, but of course the liability I try to avoid is from being sued in case of an accident, not from repaying the loan. (I always though a stellar...
Right, but in the meantime I assumed the boat itself was enough collateral and asset enough to cover the loan in case of default, after all the...
Assuming the boat would get repossessed? I don't operate that way and not used to that kind of operation. Call me naive. Surely some folks finance...
Thinking about doing an occasional charter with my boat and it seems a good idea to transfer the title to my LLC. The finance company US Bank did...
Well, do you appreciate them? Will you miss them if the next boat has small old fashioned port holes?
